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Sharjah’s Sheraa sets up new startup studio to support entrepreneurs

Sharjah’s Sheraa sets up new startup studio to support entrepreneurs

The studio, which will work on a revenue sharing model, will support founders in the early stages of setting up their businesses

The Sharjah Entrepreneurship Center (Sheraa) has launched what it claims is the UAE’s first government-backed startup studio that will take startups from idea to company.

The Sharjah Startup Studio (S3) will support entrepreneurs in the early stages of setting up their businesses.

S3 will have a team of experienced experts who will work alongside founders, and will get actively and operationally involved in the co-creation of their startups, a statement said.

It will work with founders to validate their idea and determine whether to take it to market. Along with extensive market research, this will involve the participation and feedback of relevant S3 corporate and government partners to evaluate the proposed solution.

Concepts deemed viable will receive technical and financial resources from the S3 ecosystem to build and launch the product.

S3 will also support startups with customer acquisition and help them integrate into local and global supply chains.

The startup studio will work on a revenue-sharing model, with founders retaining full ownership of their businesses. The model provides founders with $30,000 in pre-seed funding as well as business incorporation in Sharjah and access to a co-working space at the Sharjah Research Technology and Innovation Park (SRTIP).

Founders will also be offered options to raise follow-on funding through Sheraa’s investment partners after graduating from the studio.

Najla Al Midfa, CEO of Sheraa said: “S3 marks an essentially transformative era for the startup community in the region, especially in the midst of an unstable funding ecosystem that continues to affect founders and their abilities to gain access to key resources to jumpstart their startups.

“Through our startup studio, we can now help founders build and launch sustainable, successful and profitable businesses.”

She added: “It represents a turning point in the role accelerators must play to support startups, not only ensuring they provide founders with the best possible foundation to launch their business, but also build it alongside them.”

Aspiring founders and entrepreneurs from across the MENA region are invited to apply for S3 through Sheraa’s official website.

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